Azerbaijan, Serbia explore business coop prospects
By Sara Rajabova
There is a strong legal framework for trade and economic ties between Azerbaijan and Serbia, Azerbaijani Economic Development Minister Shahin Mustafayev said at the Azerbaijani-Serbian business forum in Baku on Monday.
"Relations between the two countries are developing successfully, and a particularly good dynamics is being observed in recent years. This is provided by mutual visits of the heads of the two countries. Relations are developing in all fields - political, economic, cultural, humanitarian," Mustafayev said.
"Mutual investments and trade are expanding. The project to build roads in Serbia by AzVirt is an example," Mustafayev said.
Minister of internal and external trade and telecommunications Serbia, Rasim Ljajich, said at the business forum that Azerbaijan and Serbia would sign an intergovernmental agreement on the strategic cooperation.
"The relations between Azerbaijan and Serbia have reached the level of strategic cooperation. During the visit of the President of Serbia, Tomislav Nikolich to Baku in the second half of February 2013, it is expected to sign the agreement on strategic development," Ljajich said.
According to him, in 2009, Azerbaijan and Serbia signed 21 bilateral agreements.
"There are good legal framework and environment for increasing the volume of bilateral trade and investment."
The minister invited Azerbaijani businessmen to participate in projects in Serbia, noting that there is a very favorable environment for foreign investors in the country.
"In addition, the work of the consortium of Azerbaijani and Serbian companies is promising not only in these two countries, but also in third countries," Ljajich said.
The business forum is supported by the Azerbaijani Ministry of Economic Development and Azerbaijan Export and AZPROMO. The event was attended by about 90 entrepreneurs operating in the areas of agriculture, construction, food processing, tourism, engineering, and other fields.
Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and the Serbian Chamber of Commerce signed a memorandum of cooperation within the joint business forum. The document was signed by AZPROMO head Rufat Mammadov and president of the Serbian Chamber of Commerce Miloš Bugarin.
Moreover, a memorandum of cooperation was signed between the chambers of commerce of the two countries.
On Tuesday, a meeting of Azerbaijan-Serbia Intergovernmental Commission on economic cooperation, co-chaired by Ljajich from the Serbian side, will be held.
According to the State Customs Committee, the trade turnover between Azerbaijan and Serbia amounted to $21.24 million in January-September, with the share of imports at $21.22 million.